Classic cars forum & vehicle restoration.

[clan chieftain]

Dealer prices are over the top just now. I realise that they have to make a profit but £1995 for a Marina saloon and £2695 for an Ital estate is ridiculous. Even I have to admit that Marinas and Itals arent worth that. Even prices of other makes like Minis and Minors are sky high.....but you dont have to buy them
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The Clan Chieftain

[ukdave2002]

I once toyed with the idea of earning a living trading in lower value classics; frankly the economics don't stack up. With the most modest of premises, it really requires a minimum weekly margin (not turn over) of circa £1500- £2000, this would represent about £10,000 per week turnover.

The bulk of cheaper classics are sold by private individuals who are not subject to warranty, tax, and all the other overheads like insurance, rent etc, so its a tough market, who wants to pay 20-30% more for a classic for the minimal benefits a trader adds, most folk would rather use that money for some running repairs.

£2695 for an Ital does sound steep!!

Dave

[gresham flyer]

I have been a classic car enthusiast amongst other things for over 30 years (started young).
I have seen many people come and go in the classic car dealer scene,some were in it for the wrong reasons.
A lot of people I know who deal in classic cars,vintage cars,spares,autojumbling etc etc have the following...

A property with a huge yard and storage buildings to the rear (no large overheads) especially if you live in a rural location like Norfolk or Lincolnshire.
A van,trailer and cash waiting to collect that bargain car at a moments notice...and somewhere to store them before you have time to work on them and move them on.
A very good knowledge of older cars and how to repair them yourself,without having to contract lots of the work out to unreliable people.
A way of comunicating with people when buying the car from them and a completly different approach when selling to the trade or general public,you are born with these skills ,most people get this all wrong and never get it right.

Be prompt,caring and above all reliable,not the old chestnut "yeah it will be ready next week mate",when you know you cannot be bothered to get your arse in gear. I cannot abide people like this and delete them from my contact book. Try finding a reliable person to carry out good quality chroming and have it finished on time.!!!!

Above all have a pasion for your business,whatever it is and work 12 hour days 7 days a week for a start to get it up and running.

As to the value of a certain car you really have to work backwards when purchasing or selling one i.e how much could you get it into very good condition for after giving it a good quality respray,interior tidy up,mechanical refurbishment,rechrome etc etc.
A bargain £1500.00 car on Ebay might turn into a money pit once restoration has started...one golden rule...never buy in work.

Look at traders at any auction they are looking for cars that joe blogs has spent 1000 hours restoring,a bundle of cash and a failed marriage to boot,or ones that require minor paint repairs,split seat,or other easy fixes etc.
They hardly ever buy that rust bucket old Spitfire that amatures are gushing over.

Classic cars are on the up because restoration costs are rising,your money in that ISA is doing no good and supply and demand.


Gresham Flyer

[52classic]

But does anybody actually buy these cars with the stratospheric price tags?

Seems to me they appear on ebay again and again. Yes I know it only takes one buyer but in my view there are cars which are being listed to hype the value and not to sell them.

It's coming round to NEC time again and we'll be there to marvel at the apparent values of the cars in the dealer hall. Somehow though I think there is smoke and mirrors involved!

[pigtin]

How many of you remember the dreadful price crash of the early 90s. When the value of many 50s-70s "supercars" fell by 50%. It's a very chancy business investing in some classic cars.
Motorbikes however take up less room and need less upkeep... the prices seem to be rocketing.
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Due to the onset of my mid eighties I'm no longer sprightly and rarely seen in my Austin special. I have written a book though. https://amzn.eu/d/7rwRRqL

[Rick]